Ferdinand signs one-year Man United contract
The 34-year-old would have been out of contract this summer after helping his club to a 20th league title but will now be part of new manager David Moyes's set-up following the retirement of Sir Alex Ferguson.
"I am delighted to have signed a new contract," Ferdinand said in a statement.
"Who wouldn't want to play in this fantastic team in front of 75,000 fans each week, it has been an incredible journey and I am glad it will continue. I can now fully concentrate on my club career, which has worked well for me over the past few years."
Former England defender Ferdinand retired from international football last week.
Ferdinand has made 432 United appearances since his debut in 2002 and Moyes, who starts his new job on July 1, is pleased he is staying on.
"It is clear for everyone to see that Rio has had one of his best seasons with the club and I think even from the outside you can see what a big character Rio is around the dressing room," Moyes said in a statement.
"So I am delighted he has signed a new contract and I am looking forward to working with him."